Originally posted by Orabanda
Good to see someone positive on the company Salt.
96 ounces for Dec and improving. 80% improvement mooted in the recent ann takes that to 173 ounces per month. Multiply by 12 gives us 2,076 ounces for the year. Multiply by AUD 1260 current spot price equals revenue of circa $2,600,000 per year.
MC of OGX is currently only about $10 million.
I know that the company has got debt etc... but the above production figures should only be a base case. A big improvement on this production will make OGX look cheap at today's price.
Disclaimer: All the above is my opinion only and should be taken as just that.
G'day
Orabanda
- AU Spot price hit an all time AU high in spot POG
after spiking up to $ 1,875.08 early today.
when the AUD Caved in .
Also note the wording -Regarding mining at Cascavel Gold Mine, productivity is expected to continue to improve from January / February with theaddition of an
Atlas Copco ST2G underground loader to the mining fleet, which will be purchased from the Placementproceeds.
Furthermore,
the development of Mestre Level 7 continues and is now within 10 metres ofcompletion.
Once complete, Mestre Level 7 has the potential to provide increased availability of high-grade mineralisedmaterial.
Interesting-given the intermediate zone should also be accessible when production increases to 200 t per day, so the mentioning level 7 has some significance .
glah-salt